JM Financial Asset Management Ltd raises Capital of Rs. 100 Crore through a Rights Issue
JM Financial Asset Management Ltd has announced that it has raised a sum of Rs. 100 Crore via a partly paid Rights Issue with the first tranche of Rs. 50 crores being raised already and the remaining Rs. 50 crores to be raised on call as per requirement. This capital will be deployed towards the expansion of JM Financial Asset Management Ltd.
Speaking on the occasion, Mr. Amitabh Mohanty, Managing Director & Chief Executive Officer, JM Financial Asset Management Ltd, said, “Over the last three years, we have been focussing on building the JM Financial Mutual Fund brand through increasing our distributor outreach and physical touchpoints via our branch presence across the country. This capital raised will help us accelerate growth, enhance technology and elevate customer service, delivering even greater value to our partners and investors.
This infusion reflects the trust the Shareholders of JM Financial Asset Management Ltd. have in us, who fully subscribed to the Rights Issue. With this support, we are now poised to scale even greater heights.”
Speaking on the capital infusion, Mr. Vishal Kampani, Vice Chairman and Managing Director, JM Financial Ltd, said, “The capital infusion is in line with our vision to fuel broad-based growth, enabling us to invest in talent, innovation, and technology. It reaffirms our long-term commitment to grow JM Financial Mutual Fund so that it takes its rightful place in the mutual fund industry.”
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